Vancouver Insurance Broker Negligence Lawyers

People rely on the expert advice of insurance brokers when they purchase insurance coverage.  When the advice of an insurance broker falls below the standard of care that a competent broker is expected to provide, they can be found negligent and responsible for any damages which their clients suffer due to that negligence. 

Insurance broker negligence can occur in almost any type of insurance policy including life insurance, long-term disability (LTD) insurance, or even commercial or residential property insurance.

The two areas in which insurance brokers are most commonly negligent usually have to do with the application for insurance itself, or for failing to ensure there is adequate coverage in the insurance obtained.

Insurance Applications

When it comes to insurance applications, people seeking insurance usually must provide written answers to questions posed to them by insurance companies along with forms to fill out.  Usually, these questions are given to people by an insurance broker.  Insurance companies evaluate people for insurance based on the answers to these questions.  Most people do not understand the nuances of these questions and forms and insurance brokers have a duty to make sure the answers given are accurate and that the forms are filled out correctly.

If an answer is given that is incorrect or a form is not filled out correctly, an insurance company may deny your insurance claim.  If incorrect answers are given or forms are filled out incorrectly due to the negligence of an insurance broker

Inadequate Coverage

Insurance brokers have a strong duty of care to their clients to make sure that any insurance contracts they help their client’s get include insurance coverage that is appropriate for that client’s specific circumstances.  

Insurance brokers need to make sure they investigate in detail the insurance needs of people or companies for whom they help get insurance.  Every person or business has different insurance needs and rely on insurance brokers to make sure those insurance needs are met.  If a insurance broker’s investigation is not thorough enough, or if an insurance broker fails to investigate a client’s specific insurance needs at all, then they are not meeting the standard of care required under law.

If you believe your insurance broker was negligent in the advice they provided you and you suffered a loss because of it, call the lawyers at Taylor & Blair right away.  There are timelines in which you have to act if you want compensation for insurance broker negligence.